Thousands of people flock to the pristine lakes and rivers of Arkansas each year. Whether your fishing boat is docked on the banks of the Mississippi River, or you enjoy taking your speed boat out to Lake Ouachita, the Natural State offers thousands of acres and hundreds of miles of fun on the water. Prior to boating in Arkansas, finding the right boat insurance policy is a must.
Before you search for boat insurance quotes, however, there are several factors to keep in mind.
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Arkansas Boat Facts and Figures
According to the United States Coast Guard:
- Nearly 70 boating accidents took place in Arkansas during 2012.
- During that same year, eight people died in Arkansas as a result of boating accidents.
- During 2012, 26 people in Arkansas were injured in boating accidents.
- More than 30 of these accidents caused property damage.
- A total of $310,000 in property damage resulted, an average of more than $10,000 in destruction per boating accident.
What is Boat Insurance?
Much like car insurance, boat insurance protects you by helping to pay for damages or injuries sustained while operating your vessel. Boat insurance can mean the difference between swift repairs and waiting to use your boat again after an accident until you can afford to pay for the damage yourself.
Boat insurance can also help protect you from a lawsuit should another person sue you for any damages or injuries your boat causes them.
You can find an insurance policy for any type of motorized boat from any number of Arkansas providers. The most common types of insurable boats include:
- Fishing boats
- Bass boats
- Speed boats
- Sport boats
- Sail boats
What Does Boat Insurance Cover in AR?
Arkansas insurance companies can offer you a variety of coverage options from which to choose as you build your boat insurance policy, including:
- Liability coverage: Can help pay for injuries or damage you cause another person while operating your boat.
- Collision coverage: Can help pay for repairs to your boat, should it be involved in an accident, regardless of who is at fault.
- Comprehensive coverage: Can help pay for repairs to or replacement of your boat if it is damaged or totaled by fire, severe weather events, theft or vandalism -- even when it is not on the water.
- Wreckage coverage: Can help pay for the costs of reclamation or clean-up, should your boat sink.
- Accessories coverage: Can help repair or replace things like fishing equipment, trolling motors and other items you may have purchased for your boat.
The amount of compensation you receive for a claim depends on a few things, including your deductibles, limits and whether your boater’s insurance covers your boat’s actual cash value, replacement cost or agreed upon value.
Am I Required to Carry Boat Insurance in Arkansas?
Proof of liability insurance for all personal watercraft and motorboats powered by engines of more than 50 horsepower is required before using your boat on public waters in Arkansas. The policy must be issued by an insurance company authorized to do business in Arkansas and must provide at least $50,000 of liability coverage per occurrence.
Boats propelled by sail or motor (including trolling motors) of any type must also be registered when operated on public waters. You must have an Arkansas Certificate of Number (registration) and validation decals to operate a motorboat on Arkansas’ public waters.
What Will My Boat Insurance Quote Look Like?
Boats of all models and sizes can be found on Arkansas lakes and rivers. Because there are so many different types of boats used for different purposes, it is difficult to estimate your particular boat insurance premium quote without a few details. Most Arkansas insurance companies will take the following into consideration when calculating your quote:
- The type, size, and age of the boat you wish to insure
- The size of motor and how it is powered
- Where you will use your boat
- The coverage options you choose and the deductible you set
Boat insurance can typically range anywhere from as little as $75, to as much as $500, per year. You may qualify for discounts if you’ve taken a boating safety course or a good driving discount if your boating record is claims-free. Insurance companies vary in the discounts they offer, so be sure to ask an insurance agent to compare quotes and options from multiple carriers on your behalf.
Where Can I Find Boat Insurance in AR?
As boating becomes more and more popular in Arkansas, so too does the number of accidents increase. If, like most people, you boat for pleasure and for the relaxation it offers, you want the peace of mind that a comprehensive boat insurance policy can provide to keep your time on the water as peaceful as possible.
Knowledgeable, independent insurance agents in the Trusted Choice network are always available to answer your questions, suggest coverage options best suited for your boating purposes, and even assist you in filing a claim. These agents have years of experience working with Arkansas insurance companies, enabling them to find you a number and variety of quotes with the best coverage options at the most affordable rates. Contact a Trusted Choice agent near you to find out how you can obtain the perfect boat insurance policy that meets your needs and budget.